Russian Federation increased its presence on the market despite the deal with OPEC: Schedule

Russia since the beginning of the year ahead of schedule, reduces oil production in a deal with OPEC, however, exports rose in January after three months of decline. This was due to the reduction of primary oil refining, as the increase in duties on oil exports has made this fuel unprofitable, he said by telephone analyst IHS Russia Maxim Nechaev. "This trend will continue and by the end of the year, we expect an increase in oil exports due to lower processing", - he said.